Weekly tax brief | 14 December 2021

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments. Please feel free to share this update with any of your colleagues and invite them to sign up to our regular briefings here.

Plan C: should penalties for late tax returns be scrapped?
Chris Etherington
As the Government’s Plan B and working from home come into force, taxpayers should be aware that HMRC delays in responding to queries may cause them to miss the 31 January 2022 deadline for submitting their tax returns. Have lessons been learnt from last year or should penalties for late filing be waived again?

Brexit: new customs checks from 1 January 2022 mean hard border with EU is almost complete
Sarah Halsted & Brad Ashton
The Government has confirmed that further customs controls will be introduced for goods arriving in Great Britain from the EU on 1 January 2022 and urges cross border traders to prepare. At that point, the UK’s hard border with the EU will be almost complete, but is the country really ready for this next step?

HMRC gets tough on abusive SDLT claims. Will this mean tighter regulation for reclaim agents?
Zoe Martin & Michaela Norman
HMRC proposes changes to two Stamp Duty Land Tax (SDLT) measures to target what in its view are incorrect or abusive claims. This could result in much larger SDLT bills for those purchasing properties used for both residential and non-residential purposes and where multiple properties are acquired within one transaction. Could we finally see a tightening of the regulations for the growing industry of reclaim agents?